Modern Wealth Acquires $290 Million AWA in 6th 2026 Deal

1 articles · Updated · InvestmentNews · Sep 24

$290 million AWA Wealth Management will join Modern Wealth, with the full Auburn, California-based team staying on after the acquisition.
Derrick Andrews, who founded AWA in 1994, said the deal gives the 32-year-old practice a succession path and lets him step back from daily operations to focus on clients and mentoring.
Modern Wealth said the transaction adds California scale and gives AWA broader estate, trust, tax, retirement-plan and portfolio-management support, while creating a larger advisory role for Grant Andrews and Chelsea Bailey.
The purchase is Modern Wealth's sixth acquisition of 2026 and 24th since its 2023 launch; the firm has grown to nearly $16 billion in assets under management through buying planning-led RIAs.